Chicago—RMK Management has announced that residents have started moving into the 42-story, M & R Development apartment building in Chicago’s Loop. The luxury building is the first new-construction apartment tower to open in 2014 and M & R’s first luxury apartment tower to open in Chicago since 2010.

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The metro benefits from a strong talent pool, renowned universities and its ever-growing biotechnology sector. Inventory is expected to expand significantly in the coming years, given the city’s robust multifamily pipeline and recent pro-development legislation.